Groupon Inc. (GRPN) Sees Strong Trading Volume
Groupon Inc. (NASDAQ:GRPN) saw strong trading volume on Monday . 9,435,028 shares were traded during trading, an increase of 74% from the previous session’s volume of 5,429,919 shares.The stock last traded at $3.86 and had previously closed at $3.49.
Several equities analysts have weighed in on the stock. Jefferies Group reiterated a “hold” rating on shares of Groupon in a research report on Monday, July 11th. B. Riley reiterated a “neutral” rating and set a $4.00 price objective on shares of Groupon in a research report on Friday, April 29th. Bank of America Corp. reiterated a “sell” rating on shares of Groupon in a research report on Saturday, April 30th. Maxim Group assumed coverage on shares of Groupon in a research report on Wednesday, June 22nd. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Piper Jaffray Cos. upgraded shares of Groupon from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $4.00 to $6.00 in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $6.78.
The firm’s market cap is $2.23 billion. The firm’s 50 day moving average price is $3.36 and its 200-day moving average price is $3.57.
Groupon (NASDAQ:GRPN) last announced its earnings results on Thursday, April 28th. The coupon company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $732 million for the quarter, compared to the consensus estimate of $717.59 million. During the same period in the previous year, the firm earned $0.03 EPS. Groupon’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities analysts expect that Groupon Inc. will post ($0.04) EPS for the current year.
In other Groupon news, Director Peter J. Barris sold 640,045 shares of Groupon stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $3.22, for a total value of $2,060,944.90. Following the transaction, the director now owns 116,923 shares in the company, valued at $376,492.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Brian Stevens sold 10,000 shares of Groupon stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $3.50, for a total transaction of $35,000.00. Following the completion of the transaction, the chief accounting officer now owns 117,170 shares in the company, valued at approximately $410,095. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Groupon stock. Swiss National Bank raised its stake in Groupon Inc. (NASDAQ:GRPN) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 634,766 shares of the coupon company’s stock after buying an additional 18,400 shares during the period. Swiss National Bank owned about 0.10% of Groupon worth $1,949,000 as of its most recent SEC filing.
Groupon, Inc operates online local commerce marketplaces throughout the world that connect merchants to consumers by offering goods and services at a discount. The Company operates through three segments: North America, which represents the United States and Canada; EMEA, which consists of Europe, the Middle East and Africa, and international operations (Rest of World).
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